SIOUX FALLS, S.D. — A new study by SmartAsset.com says Huron is South Dakota’s most affordable city to own a home.
Sioux Falls ranked as the 8th most affordable.
Yankton ranked as the 10th least affordable city to own a home in the state.
A study by SmartAsset analyzed where it is most affordable to own a home in South Dakota. The study compared locations across four metrics to find the most affordable places, including: closing costs, real estate taxes, homeowners insurance, and mortgage rates.
For a look at how locations in South Dakota compared, check out the table below:
| Rank | City, State | Avg. Closing Costs | Annual Property Tax | Annual Homeowner’s Insurance | Avg. Annual Mortgage Payment | Median Income | Affordability Index |
|---|---|---|---|---|---|---|---|
| 1 | Huron, SD | $2,465 | $1,675 | $737 | $3,840 | $46,106 | 49.20 |
| 2 | Madison, SD | $2,251 | $1,981 | $993 | $5,177 | $55,096 | 44.21 |
| 3 | Rapid Valley, SD | $2,327 | $2,265 | $1,291 | $6,731 | $64,590 | 42.23 |
| 4 | Harrisburg, SD | $2,639 | $2,940 | $1,597 | $8,323 | $81,359 | 41.92 |
| 5 | Brandon, SD | $2,492 | $3,282 | $1,805 | $9,409 | $87,250 | 41.40 |
| 6 | Pierre, SD | $2,539 | $2,457 | $1,408 | $7,337 | $62,192 | 35.31 |
| 7 | Belle Fourche, SD | $2,294 | $1,888 | $1,054 | $5,494 | $46,463 | 35.09 |
| 8 | Sioux Falls, SD | $2,559 | $2,754 | $1,521 | $7,930 | $59,912 | 33.31 |
| 9 | Aberdeen, SD | $2,427 | $2,366 | $1,297 | $6,760 | $52,651 | 32.63 |
| 10 | Yankton, SD | $2,384 | $2,064 | $1,192 | $6,213 | $50,582 | 32.48 |
Find additional details on the study, including the methodology and interactive map, here: [LINK]
